Elon Musk again promises next-generation Roadster, six years after first hyping it
Tesla Roadster
Courtesy: Tesla
Six years ago, Elon Musk hyped a next-generation Roadster, the name of Tesla’s debut car from 2008. A refreshed version was never produced, but Musk is once again promising a new Roadster is on the way.
“Tonight, we radically increased the design goals for the new Tesla Roadster,” Musk wrote on X as part of a series of posts Tuesday night. “There will never be another car like this, if you could even call it a car.”
“I think it has a shot at being the most mind-blowing product demo of all time,” he wrote, adding that it will reach 60 miles per hour in less than a second, “and that is the least interesting part.”
Musk first promoted the next-generation Roadster concept in June 2018 in a series of tweets. He said at that time, “SpaceX option package for new Tesla Roadster will include ~10 small rocket thrusters arranged seamlessly around car.” The engines would improve speed and braking, and may “even allow a Tesla to fly,” he wrote at the time.
On Tuesday, he replied to his old tweets saying, “You will love the new Roadster more than your house.”
Tesla didn’t immediately respond to a request for comment.
Musk’s renewed proclamations followed news that Chinese rival BYD introduced a new electric supercar, dubbed the U9, that can hit speeds similar to high-end models from companies like Ferrari.
BYD’s electric supercar, which it says will be able to reach a top speed around 192 miles per hour, is slated for delivery to customers this summer. While BYD doesn’t have plans to sell its vehicles in the U.S., Tesla competes with BYD in mainland China and other markets.
Tesla’s market share in China declined in January to 6.1%, while BYD’s share stood at 29.2%, according to data from the China Passenger Car Association cited by Morgan Stanley China Autos researchers in a note Wednesday.
Grandiose promises from Musk are nothing new. His frequent failures to deliver on them are the subject of an online promise-tracking website called ElonMusk.Today. The site noted on Wednesday that it’s been, “1,876 days since Elon Musk said the new Roadster will use rocket technology that will allow it to fly.”
In Tesla’s most recent quarterly shareholder update, the company said the new Roadster is still “in development” with no pilot production line built and no chosen location for production.
“Musk is the master of selective disclosure of information,” said Warren Ahner, an automotive tech expert and former competitive driving instructor.
Ahner said it’s not clear how a supercar would benefit Tesla’s business, adding that it’s “mostly for ego.”
“If you have the right credit score, you can walk into a Tesla showroom and buy a Model S Plaid today,” Ahner said. That “already has way more power potential than 99% of drivers on the road are capable of handling.”
Ross Gerber, a long-time Tesla fan and recent Musk critic agreed that it would be hard to “move the needle” for Tesla with a refreshed Roadster.
“If they make a great car that people will talk about, there could be a halo effect” said Gerber, CEO of wealth management firm Gerber Kawasaki. He compared it to the recently released Cybertruck. “Everyone wants to look at it and stuff,” Gerber said. “But does it mean that it will help Tesla sell other cars?”
Gerber said Tesla should be focusing more on its affordable EV, which it calls its “next-generation” platform. He added that Musk’s outspokenness on political matters “has been really detrimental” to the company and shareholders.
“I don’t think he’s focused,” Gerber said. “And I don’t think he tries at all to sell cars. It’s put Tesla in a really tough position where we had to lower our investment in Tesla because we don’t feel the opportunity is as good now that Elon has turned off so many of the company’s core customers.”
On Musk’s X account, which claims 174.1 million followers, Musk has recently denounced immigrants and disparaged diversity, equity and inclusion initiatives in medicine and other fields.
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The Nasdaq MarketSite in New York, June 9, 2023.
Michael Nagle | Bloomberg | Getty Images
Silicon Valley executives and financiers publicly opened their wallets in support of President Donald Trump’s 2024 presidential run. The early returns in 2025 aren’t great, to say the least.
Following Trump’s sweeping tariff plan announced Wednesday, the Nasdaq suffered steep consecutive daily drops to finish 10% lower for the week, the index’s worst performance since the beginning of the Covid pandemic in 2020.
The tech industry’s leading CEO’s rushed to contribute to Trump’s inauguration in January and paraded to Washington, D.C., for the event. Since then, it’s been a slog.
The market can always turn around, but economists and investors aren’t optimistic, and concerns are building of a potential recession. The seven most valuable U.S. tech companies lost a combined $1.8 trillion in market cap in two days.
Apple slid 14% for the week, its biggest drop in more than five years. Tesla, led by top Trump adviser Elon Musk, plunged 9.2% and is now down more than 40% for the year. Musk contributed close to $300 million to help propel Trump back to the White House.
Nvidia, Meta and Amazon all suffered double-digit drops for the week. For Amazon, a ninth straight weekly decline marks its longest such losing streak since 2008.
With Wall Street selling out of risky assets on concern that widespread tariff hikes will punish the U.S. and global economy, the fallout has drifted down to the IPO market. Online lender Klarna and ticketing marketplace StubHub delayed their IPOs due to market turbulence, just weeks after filing with the Securities and Exchange Commission, and fintech company Chime is also reportedly delaying its listing.
CoreWeave, a provider of artificial intelligence infrastructure, last week became the first venture-backed company to raise more than $1 billion in a U.S. IPO since 2021. But the company slashed its offering, and trading has been very volatile in its opening days on the market. The stock plunged 12% on Friday, leaving it 17% above its offer price but below the bottom of its initial range.
“You couldn’t create a worse market and macro environment to go public,” said Phil Haslett, co-founder of EquityZen, a platform for investing in private companies. “Way too much turbulence. All flights are grounded until further notice.”
CoreWeave investor Mark Klein of SuRo Capital previously told CNBC that the company could be the first in an “IPO parade.” Now he’s backtracking.
“It appears that the IPO parade has been temporarily halted,” Klein told CNBC by email on Friday. “The current tariff situation has prompted these companies to pause and assess its impact.”
‘Cave rapidly’
During last year’s presidential campaign, prominent venture capitalists like Marc Andreessen backed Trump, expecting that his administration would usher in a boom and eliminate some of the hurdles to startup growth set up by the Biden administration. Andreessen and his partner, Ben Horowitz, said in July that their financial support of the Trump campaign was due to what they called a better “little tech agenda.”
A spokesperson for Andreessen Horowitz declined to comment.
Some techies who supported Trump in the campaign have taken to social media to defend their positions.
Venture capitalist Keith Rabois, a managing director at Khosla Ventures, posted on X on Thursday that “Trump Derangement Syndrome has morphed into Tariff Derangement Syndrome.” He said tariffs aren’t inflationary, are effective at reducing fentanyl imports, and he expects that “most other countries will cave and cave rapidly.”
That was before China’s Finance Ministry said on Friday that it will impose a 34% tariff on all goods imported from the U.S. starting on April 10.
At Sequoia Capital, which is the biggest investor in Klarna, outspoken Trump supporter Shaun Maguire, wrote on X, “The first long-term thinking President of my lifetime,” and said in a separate post that, “The price of stocks says almost nothing about the long term health of an economy.”
However, Allianz Chief Economic Advisor Mohamed El-Erian warned on Friday that Trump’s extensive raft of import tariffs are putting the U.S. economy at risk of recession.
“You’ve had a major repricing of growth prospects, with a recession in the U.S. going up to 50% probability, you’ve seen an increase in inflation expectations, up to 3.5%,” he told CNBC’s Silvia Amaro on the sidelines of the Ambrosetti Forum in Cernobbio, Italy.
Former Microsoft CEOs Bill Gates, left, and Steve Ballmer, center, pose for photos with CEO Satya Nadella during an event celebrating the 50th Anniversary of Microsoft on April 4, 2025 in Redmond, Washington.
Stephen Brashear | Getty Images
Meanwhile, executives at tech’s megacap companies were largely silent this week, and their public relations representatives declined to provide comments about their thinking.
Microsoft CEO Satya Nadella was in the awkward position on Friday of celebrating his company’s 50th anniversary at corporate headquarters in Redmond, Washington. Alongside Microsoft’s prior two CEOs, Bill Gates and Steve Ballmer, Nadella sat down with CNBC’s Andrew Ross Sorkin for a televised interview that was planned well before Trump’s tariff announcement.
When asked about the tariffs at the top of the interview, Nadella effectively dodged the question and avoided expressing his views about whether the new policies will hamper Microsoft’s business.
Ballmer, who was succeeded by Nadella in 2014, acknowledged to Sorkin that “disruption is very hard on people” and that, “as a Microsoft shareholder, this kind of thing is not good.” Ballmer and Gates are two of the 12 wealthiest people in the world thanks to their Microsoft fortunes.
C-suites may not be able to stay quiet for long, especially if the recent turmoil spills into next week.
Lise Buyer, who previously helped guide Google through its IPO and now works as an adviser to companies going public, said there’s no appetite for risk in the market under these conditions. But there is risk that staffers get jittery, and they’ll surely look to their leaders for some reassurance.
“Until markets settle out and we have the opportunity to access valuation levels, public company CEOs should work to calm potentially distressed employees,” Buyer said in an email. “And private company managements should refine plans to get by on dollars already in the treasury.”
— CNBC’s Hayden Field, Jordan Novet, Leslie Picker, Annie Palmer and Samantha Subin contributed to this report.
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